Why Lebanon needs more Arab investment

The lack of Arab investment in Lebanon is plunging the country's economy into a dire situation.

The absence of Arab tourists and investors is weighing heavily on the Lebanese economy,[2] said Mohammad Choukeir, president of the Chamber of Commerce and Industry of Beirut. “We cannot deny the fact that the flow of investments from Gulf countries, and mainly from Saudi Arabia, is very essential to the Lebanese economy,” he said during a meeting held with the Association of Economic Media Representatives Sunday.

During the meeting, Choukeir also said he had received many complaints from Lebanese industrialists[5] suffering from Syrian competition.

“I am not against foreign investment [6]but all I am asking for is fair competition by foreign factories and for these businesses to obtain permits before entering the Lebanese market,” he said.

He also highlighted the importance of holding the Lebanon Week exhibition in Jeddah, saying the kingdom will witness a great boom in its economy in the coming years due to the huge projects currently under development.

“We have decided to go to the Saudis since they are worried about coming to Lebanon but the political situation cannot separate us,” he said, adding that both the Lebanese and Saudi governments had granted Lebanon the permits to hold the exhibition.